If You Are 50 and Over You Have a Huge Stake in these Reforms

On Saturday, November 8th the House approved a rule (in a 220-215 vote) setting parameters for considering Affordable Health Care for America Act H.R.3962 and the Medicare Physician Payment Reform Act of 2009 (H.R.3961). However, a floor vote was not taken on H.R.3961.  The AMA reports that the House is now expected to consider H.R.3961 during the week of November 16, 2009. As originally drafted, H.R.3691 would repeal the now 21.2 percent Medicare payment rate reduction for physician services in 2010 and restructure the sustainable growth rate (or SGR) formula.

The 220 to 215 vote came after an unusual Saturday session, which was highly partisan and was highlighted by an early morning caucus of House Democrats with President Barack Obama. Approval was assured when House leaders added an amendment assuring that federal funds would not finance abortions.

The House measure would cover 36 million uninsured Americans and bar insurance companies from denying people coverage because of their health or age. It would require all Americans to have health coverage, provide subsidies for those who can’t afford it and create insurance exchanges-- where people could shop for coverage among a number of plans, including a government-run option.

What does it mean for those under the age of 65?

For those under 65 and not yet eligible for Medicare, the health care challenges are daunting. They face the prospect of lost jobs, reduced health benefits and the “sandwich generation” challenge of helping finance health care for both their parents and their older children.

What does it mean for those 65 and Older?

The stakes for Medicare recipients are also significant. Nearly $400 billion of the projected cost of the reforms is to come from savings in the estimated $7 trillion to be spent for Medicare and Medicare Advantage. On the other hand, the legislation provides annual preventive care checkups and strengthens the Medicare Trust Fund.

The stakes for American businesses, workers, and retirees are substantial. Virtually everyone will be touched by the reforms in these proposals (read more at AARP Bulletin Today, November 8, 2009). Now the spotlight shifts to the Senate, which hopes to take action on similar legislation in December.

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